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Question

In Economics, Production refers to any economic activity ________________.

A
Which results in creation of a product or service.
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B
Which is directed at the satisfaction of human wants
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C
Both (a) and (b)
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D
Neither (a) nor (b)
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Solution

The correct option is C Both (a) and (b)

Production is an activity carried out to produce outputs of goods or services which are used for consumption and satisfaction of human wants.


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